The UK is currently at a crossroads regarding the future of media ownership, with a significant focus on the proposed UAE-backed takeover of The Telegraph. Early in the week, speculation arose about whether the UK government, specifically No10, would support the Stowell amendment, which aims to restrict foreign ownership of British newspapers, or propose an alternative. The decision was on Sunak's desk late last week. Labour initially seemed ambivalent towards the amendment but later, Labour peers were encouraged by James Cleverly and CPhilpOfficial to support new laws granting Parliament veto power over the UAE-backed bid. This shift in stance was confirmed when Labour officially opposed the Emirati bid for the Daily Telegraph and the Spectator, citing concerns over press freedom, as stated by Thangam Debbonaire, Shadow Culture Secretary. The Department for Digital, Culture, Media and Sport (DCMS) is expected to make a ruling on the bid, amidst growing signs that Parliament may block the takeover by effectively banning UK media acquisitions by foreign governments, targeting specifically the Zucker/UAE bid. The UK competition watchdog has also completed its report on the UAE-led Telegraph buyout, adding another layer of scrutiny to the deal. Labour has said that the Emirati-backed RedBird IMI takeover would be "incompatible with press freedom", suggesting the deal would be rejected by a Labour government. The UK weighs approval of the Abu Dhabi-backed Telegraph newspaper buyout.
UK weighs approval of Abu Dhabi-backed Telegraph newspaper buyout https://t.co/QATsayEcNq https://t.co/4k91RsEesf
✍️ @jonprynn: Given the intense political sensitivities, and the timing, it seems highly unlikely that the takeover can go through in its current form https://t.co/vvNrK7scok
Labour has said that the Emirati-backed RedBird IMI takeover of the Spectator and Daily Telegraph would be "incompatible with press freedom". This suggests the deal would be rejected by a Labour government (if kicked into the long grass now). Story:- https://t.co/BB7dPU3Hjc
UK competiton watchdog completes report on UAE-led Telegraph buyout https://t.co/auhd7y419r https://t.co/9pFPc7Hw1t
🔴 Labour has come out against a UAE-backed takeover of The Telegraph https://t.co/LJzH6Y4dHM
Some more news from the BBC as Mr Zucker sips his breakfast coffee in New York Is Gulf-backed bid for Telegraph 'effectively dead'? https://t.co/heuILtT8Gb
Is Gulf-backed bid for Telegraph 'effectively dead'? https://t.co/lx5IRUyg7X
More signs that Parliament is moving to block the Zucker/UAE bid by effectively banning UK media takeovers by foreign governments. https://t.co/LvEWYJrbCK
Some news for Mr Zucker when he wakes up in New York this morning. Labour comes out against Emirati bid for Telegraph https://t.co/F3u2TOLO63
Thangam Debbonaire, Shadow Culture Secretary, on Emirati bid for the Telegraph https://t.co/BB7dPU3Hjc https://t.co/mqJosgC4SV
🚨Breaking: Labour has come out against the Emirati bid for the Daily Telegraph and Spectator. Story: 👇https://t.co/BB7dPU3Hjc
It’s a big week for the future of UK media ownership: DCMS is due to rule on Emirati bid for the Telegraph and Labour may back a Lords amendment giving Parliament the power to defend the principle of a free press. I’m discussing with Simon Jack at 7.50am on Radio4.
Labour peers have been urged to back new laws that would give Parliament a veto over a UAE-backed takeover of The Telegraph. @JamesCleverly @CPhilpOfficial https://t.co/iQIDvgqxml https://t.co/K6lP5Zn2DB
On Friday it sounded like Labour were *not* going to back Stowell amendment. Sources didn’t seem that fazed with the fate of the newspaper… https://t.co/f82m2s2jOl
Is No10 going to back Stowell amendment on foreign ownership of papers this week - or lay their own version of it? Decision was on Sunak’s desk late last week… https://t.co/782QR3UxXS https://t.co/P1r3WpYYkb